Prime Minister Shri. Narendra Modi today launches 'Pradhan Mantri Jan Dhan Yojana'. The 'Pradhan Mantri Jan Dhan Yojana', an ambitious financial inclusion scheme under which the government intends to provide every household with a bank account and insurance cover, was launched by Prime Minister Narendra Modi on Thursday. The scheme, about which Modi made the announcement in his Independence Day speech, was launched across the country simultaneously amid his emphasis that it lies at the core of "our development philosophy of 'Sabka Sath Sabka Vikas'". As a first step, under the scheme, every account holder will get a 'RuPay' debit card with Rs 30,000 life insurance besides accidental insurance of up to Rs 1 lakh.Speaking at the launch, Modi said, "This is a record breaking occasion for both insurance companies and banks, to have got 1.5 crore accounts in a single day." "This is also a big boost for those who worked for this scheme, that the government can implement what it promises," Modi said. Modi went on to say that a bank account for every household will help boost growth and fight poverty effectively. "This will financially empower the women," he added. Earlier, Modi, who has sent an email to all bank officers, said bank account for each household is a "national priority" and they should try their best to ensure that no one is left without a bank account. Describing the task as "gigantic," he said, "We need to enroll over 7 crore households and open their accounts. This is a national priority and we must rise to meet this challenge. There is an urgency to this exercise as all other development activities are hindered by this single disability. I am sure we will overcome this situation collectively."